This iconic 1906 Harlem loft building sat vacant for over four decades, falling into massive disrepair when Blesso Properties first toured it in 2005. In spite of its poor condition and a challenging location the developer quickly identified the tremendous potential of the project. The property boasted excellent subway access, central park views, high ceilings and other unique architectural features including the distinctive Roebling Arched ceilings. The original eight story structure was expanded by 18,000 square feet through four additional terraced floors at the top of the building for a total of 52,000 square feet. The modern glass and steel expansion complemented the existing masonry structure while the state-of-the-art interiors took advantage of the unique barrel-vaulted terra cotta ceilings, exposed brick walls, and unobstructed views towards Central Park and Midtown. The finished design boasted a level of architectural quality previously unseen in Harlem.
The twenty one new residential units received critical acclaim while selling at record prices. Loft 124 continued to have strong sales through 2008 even as the real estate markets grew increasingly soft as a result of the downturn.
LOCATION
New York, New York
PROPERTY TYPE
Residential
ROLE
Developer
AWARDS
Sales Record: Highest average sale price-per-square-foot north of 111th Street
Sales Record: Penthouse unit first condo to exceed $1,000 per-square-foot in Harlem
